BoG says GH¢17.5bn gold shortfall is a book loss from the cedi's rise
-1200x630.jpg)
The Bank of Ghana says a GH¢17.5 billion accounting loss on its 2025 Domestic Gold Purchase Programme came from the cedi's rise, and was not cash that left the country. Paul Bleboo, Head of Gold Management, gave the figure on Friday, November 6, to Parliament's Committee on Economy and Development. Governor Dr Johnson Pandit Asiama led the Bank's team at that hearing. Gold was bought at the local market rate, exported, and the dollars booked in cedis about 10 days later, Bleboo said. The Bank's reference rate was far lower than the rate paid for the gold. In his written statement Asiama told the committee the cedi appreciated 40.7 per cent against the US dollar in 2025.
